Dimensional Fund Advisors LP recently announced the acquisition of new stake in Olin Corporation (NYSE:OLN). The institutional investor has increased its shareholding in the Basic Materials company by 12.16% to 9.75 million shares with purchase of 1.06 million shares. This fresh investment now brings its stake to 6.18% valued currently at $109.62 million. In addition, Pzena Investment Management LLC raised its holdings by 0.56 million to 5.83 million shares.
With over 4.25 million Olin Corporation (OLN) shares trading Friday and a closing price of $9.79 on the day, the dollar volume was approximately $41.62 million. The shares have shown a negative weekly performance of -14.72% and its price on 08/21/20 lost nearly -3.26%. Currently, there are 157.90M common shares owned by the public and among those 154.52M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for OLN have a consensus price objective of $12.80. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Olin Corporation stock is 2.80 for the next 12 months. The average price target is 23.52% above its last price level and an upside to the estimated low will see the stock gain 2.1% over that period. But an upside of 42.41% will see the stock hit the forecast high price target while mean target price for the stock is $12.00.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 126,295 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 25,736 shares.
The top 3 mutual fund holders in Olin Corporation are Fidelity Series Stock Selector La, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Fidelity Series Stock Selector La owns 4.53 million shares of the company’s stock, all valued at over $50.97 million. The company sold -0.44 million shares recently to bring their total holdings to about 2.87% of the shares outstanding. Vanguard Total Stock Market Index sold 69362.0 shares to see its total holdings shrink to 4.48 million shares valued at over $50.38 million and representing 2.84% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 45009.0 shares to bring its total holdings to over 4.17 million shares at a value of $46.88 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.64% of the shares outstanding.
Shares of Olin Corporation (NYSE: OLN) opened at $10.05, down -$0.07 from a prior closing price of $10.12. However, the script later closed the day at $9.79, down -3.26%. The company’s stock has a 5-day price change of -14.72% and -11.88% over the past three months. OLN shares are trading -43.25% year to date (YTD), with the 12-month market performance down to -39.23% lower. It has a 12-month low price of $8.76 and touched a high of $19.82 over the same period. Currently, 4.25 million shares have been traded, compared to an average intraday trading volume of 2.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.58%, -15.94%, and -31.01% respectively.
Institutional ownership of Olin Corporation (NYSE: OLN) shares accounts for 93.30% of the company’s 157.90M shares outstanding. Mutual fund holders own 44.32%, while other institutional holders and individual stakeholders account for 48.36% and 1.70% respectively.
It has a market capitalization of $1.60B and a beta (3y monthly) value of 1.33. The earnings-per-share (ttm) stands at -$1.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.55% over the week and 4.51% over the month.
Analysts forecast that Olin Corporation (OLN) will achieve an EPS of -$0.25 for the current quarter, -$0.22 for the next quarter and -$0.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.34 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was $0.45 a year ago. Earnings per share for the fiscal year are expected to decrease by -103.60%, and 85.40% over the next financial year. EPS should grow at an annualized rate of 2.30% over the next five years, compared to -15.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Olin Corporation (OLN) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 13 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the OLN, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on August 10, 2020, with the firm’s price target at $12. Vertical Research coverage for the Olin Corporation (OLN) stock in a research note released on May 01, 2020 offered a Hold rating with a price target of $15. KeyBanc Capital Markets was of a view on March 26, 2020 that the stock is Sector Weight, while RBC Capital Mkts gave the stock Underperform rating on March 26, 2020, issuing a price target of $16- $7. Tudor Pickering on their part issued Hold rating on November 04, 2019.